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Friday, 24th October 2008 (1032 views)

New Dawn Mining has provided an update on its gold reserves at the Turk and Angelus mines in Zimbabwe.

It revealed that work conducted throughout the course of the year provided further material from the locations despite work being suspended temporarily.

Gold production for the three months ending September 30th was a total of 1,154 ounces of gold, the firm noted.

And total gold reserves increased by 21,600 ounces in 2008, an increase of 15.6 per cent compared to 2007.

The company recently asserted that "it is not unreasonable" to expect up to two million ounces of gold to eventually be mined at the Turk site.

President and chief executive officer Ian Saunders said that he was "pleased" with New Dawn's continual growth.

He added: "The size and nature of this ore body, combined with the installed infrastructure, should result in a multi-year mine life, at production rates significantly higher than in the recent past."

Recently, Hidalgo International completed the acquisition of the Fifa properties in Guinea.

 

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